Finanical Literacy Before

Deciding how to spend your money before you actually spend it.

• Cash

• Budget

• Payment

• Balance

Anything that you spend money on.

• Income

• Expense

• Withdrawal

• Save

A plastic payment card linked to an account and is used for transactions.

• Debit Card

• Credit Card

• Gift Card

• Saving account

Scholarships and grants are available for many college students, and they...

• give students a job to help pay

• don't have to be paid back

• have lower interest rate

Credit cards and debit cards are essentially the same thing.

• True

• False

Your neighbor will pay you Rs10.00 to wash his car. You wash his car once. How many full hours will you now have to babysit (Rs 10.00 an hour) so you can pay for Rs.100.00 jacket?

• 8 Hours

• 10 Hours

• 9 Hours

• 7 Hours

Distinguishing your needs and wants is a crucial step for budgeting. What are the examples of ‘needs’ in the following?

• Essential items (food, school fee)

• A fancy and expensive car

• Going on a summer break trip all your friends are going

• Paying rent

What is the goal of financial literacy?

• Making a lot of money

• Spending the same amount of money you save

• Managing your money effectively

Which question would you ask to set a specific goal?

• What do you want to accomplish?

• Can I feasibly do this?

• Does this goal contribute to my happiness?

• How can I measure my accomplishment?

Savings accounts are useful because _________________.

• It doubles your money

• It earns interest on it

• It automatically pays your bills for you